BofA Securities Starts Payoneer (PAYO) at Buy

BofA Securities analyst Aditya Buddhavarapu initiates coverage on Payoneer (NASDAQ: PAYO) with a Buy rating and a price target of $6.00.

The analyst comments: "We initiate on Payoneer at Buy with a $6 PO and 27% upside. PAYO is evolving from a marketplace payout specialist into a multi‑currency financial stack for global SMBs engaged in cross‑border commerce. Our positive view is based on: (i) B2B as a scaled, high‑growth opportunity in a $6trn TAM, (ii) continued marketplace payout strength, (iii) take‑rate uplift from AP/cards/FX cross‑sell and regional mix, (iv) operating leverage and (v) strong cash generation giving scope for further cash returns. PAYO offers attractive growth (13%/ 14%/ 15% core revenue/ core adj EBITDA/ FCF CAGR 26-28E)."

For an analyst ratings summary and ratings history on Payoneer click here. For more ratings news on Payoneer click here.

Shares of Payoneer closed at $4.73 yesterday.

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